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General contractors and residential builders report most reliable payment, but cash flow problems persist for everyone in the industry, according to Levelset's 2021 Construction Cash Flow & Payment Report.
Profiles on 23,000 subcontractors in the U.S. indicate how likely individual subcontractors are to pay their suppliers, therefore avoiding potential time-consuming and costly liens on building projects
"Once a contractor gets wind that their client or another higher-tiered contractor goes bankrupt on the project, they should gather any supporting documentation to prepare to file a claim if a pa
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yment problem ultimately arises," -Construction attorney Alex Benarroche.
"First and foremost, contractors should look to secure payment for any work already performed before the ripple effects of the shutdown begin to manifest," said Alex Benarroche, construction
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attorney at Levelset.
Even as industry spending booms, just 12% of #construction businesses report always getting paid on time in our 2022 Const
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ruction Cash Flow & Payment Report—and unfortunately, ongoing slow payments and payment disputes can turn into bankruptcies. #Florida
We were founded on the idea of empowering contractors to approach business relationships with fairness both directions from the get-go (to get paid what they earn). Our friends are leading a pledge ai
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ming to spread this mentality.
"Consumers are right to complain about inflation, which has been north of 8% during the past year," said ABC National Chief Economist Anirban Basu. "But America's contractors have exper
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ienced materials price inflation nearly three times that during the same period. For now, there are few signs of relief."
Running a successful #construction business takes a ton of knowledge, determination, and hard work. But why is it that som
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e companies are able to grow and thrive while others stagnate or go out of business entirely? Here's 4 key reasons:
Court documents claim Bollinger operated in "bad faith" and reneged on its orders with Barnett in order to seek cheaper materials from other suppliers once the price of lumber began to fall
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last summer.
#lumberprices #NewYork #buildingmaterials
In light of #NationalHurricanePreparednessWeek, three ...
ruction" target=\"_blank\">#construction attorneys have shared some tips for homeowners and contractors (especially restoration and disaster recovery) alike to minimize business impacts. Read here:
House Perron & House PLLC Berger Singerman
Even in the midst of an unprecedented construction boom, many construction businesses are struggling with cash flow. Why? Many aren't getting paid for work they've already finished.
We surveyed 500+
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construction companies to get a glimpse into the cash flow problems facing the industry today. We discovered companies waiting months for payment, facing stress from cash flow concerns, and struggling to identify the source of slow payment.
Read our 2022 Cash Flow and Payment report for detailed analysis of the payment landscape in the construction industry.
Fewer than 40% of companies are paid within 30 days for their projects—and some companies are waiting months for payment, leading to stress and cash flow concerns.
50% of subcontractors blame general contractors for payment problems, but GCs overwhelmingly fault property owners. Visibility and payment confusion continue to affect nearly everyone in the industry.
#2022constructioncashflowreport #payments
Residential jobs are more than twice as likely to pay within 30 days than public jobs, but prompt payment is reliant on strong interpersonal skills, according to the 2022 Levelset Cash Flow & Payment Report
Levelset @levelsetnow With hurricane season approaching, #Florida #restoration contractors should be prepared in the event of more… https://t.co/GrMa1Ax6hv
Levelset @levelsetnow “For months, concrete companies have used their control over Seattle’s concrete industry to drag out negotiations,… https://t.co/erZ8eKN1Wd
Levelset @levelsetnow For subcontractors looking to work with Mayer Building Company (MBC), it’s helpful to research the company’s histor… https://t.co/ULSMbrD41V
Levelset @levelsetnow Though development of the new Mountain View campus reportedly cost Google subsidiary Planetary Ventures, LLC $200M+… https://t.co/5KxG3YbYIC
Levelset @levelsetnow Once #Utah #SB119 goes into effect in May 2022, contractors hired by tenants should be aware of the limitations of… https://t.co/53NDJS6Y70
Levelset @levelsetnow Want to help build #Ford's new Blue Oval City #Tennessee facility for producing the next gen of electric vehicles?… https://t.co/TVyidJnMsE
Published by Levelset and authored by Thea Dudley, The Credit Overlord's Guide to Credit & Collections is available today on Amazon as e-book and paperback.
New master class style online course, led by industry veteran Thea Dudley, coaches Credit Managers of all levels to become experts in their craft
Levelset forms a credit management advisory board to help credit and finance departments in the building material supply and construction equipment rental industries.
This publication is the best news source for financial administrators and business owners dealing with the unique challenges and solutions for managing construction payments.
Construction tech company Levelset announces awards to the contractors that make on-time payments and treat their subcontractors and material suppliers fairly
Levelset Partners with Fieldwire to Release the 2020 National Construction Payment Report.
Levelset discounts the price of a mechanics lien by $150 to help all contractors get paid amid coronavirus pandemic.
Construction software that helps contractors get paid, Levelset, connects contractors to its attorney network for free help and advice during the COVID-19 outbreak.
Construction technology company dedicated to making payments easy for contractors is accelerating document exchange across the industry.
While the founders came from different backgrounds, almost all of them had some connection to the construction industry.
Construction professionals now have access to expert help for dealing with complex issues in construction payment.
Levelset profiles designate firms as fast, medium and slow payers
Construction payment data and industry reviews make it possible to get an inside look at how GCs pay and treat their subs.
The New Orleans-based construction-tech company is offering a software sales training program for job seekers new to the technology industry.
Scott Wolfe, CEO of Levelset, discusses the need for technology to incentivize faster B2B payments in the construction space in harmony with regulatory efforts.
Levelset, which makes payments software for contractors and suppliers in the construction sector, has raised $30 million from Horizons Ventures, according to TechCrunch.
Funding was led by Horizons Ventures with participation from S3 Ventures, Altos Ventures, Operating Venture Capital, and Darren Bechtel
Success with the first class of 14 hires leads to a second round of trainees starting in January.
Don't lose your lien rights to a technicality — know what's due and when
Partnership brings together two best-in-class, cloud-based technology platforms that specialize in construction management solutions for subcontractors and other construction industry businesses.
zlien and the Cleveland Metropolitan Bar Association signed a settlement agreement, approved and ordered by the Board on the Unauthorized Practice of Law of the Supreme Court of Ohio, confirming zlien's right to help contractors and suppliers doing business in Ohio.
zlien, a construction technology that makes lien rights easy, raises $5 million with Altos Ventures to bring preliminary notices, lien waivers, and the messy lien process into the 21st century.
Lien rights platform, zlien, announced a $1.3M funding round led by Brick & Mortar Ventures to tackle the exchange of lien waivers in construction industry, and launched the industry's first completely free collaborative lien waiver exchange tool.